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Jun 30, 2021
Scripps Q2 2021 Earnings Report
Scripps' second-quarter results surpassed expectations, driven by strong performance in Local Media and Scripps Networks divisions.
Key Takeaways
Scripps' Q2 2021 results exceeded expectations, with a 57% increase in total revenue to $565 million. The Local Media and Scripps Networks divisions performed strongly, driven by the rebound of the advertising marketplace. The company raised its full-year free cash flow guidance to $240-$260 million.
Consolidated revenue grew by 23% year-over-year on a same-station basis.
Local Media core advertising was up 48% on an adjusted-combined basis.
Scripps Networks revenue increased by 23% from Q2 2020 on an adjusted-combined basis, with a 45% margin.
The company raised its full-year free cash flow guidance from $210-$240 million to $240-$260 million.
Revenue by Segment
Forward Guidance
The company provided guidance for the third quarter of 2021, with comparisons to the same period in 2020 on an adjusted-combined basis.
Positive Outlook
- Scripps Networks revenue is expected to be up in the mid-teens percent range.
Challenges Ahead
- Local Media revenue is expected to be down in the mid-teens percent range.
- Local Media expense is expected to be up in the low-double-digit percent range.
- Scripps Networks expense is expected to be up in the low-to-mid-teens percent range.
- Shared services and corporate expenses are expected to be around $19 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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